Treasury Targets Iran’s Shadow Fleet, Networks Supplying Ballistic Missile and ACW Programs

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned over 30 individuals, entities, and vessels enabling illicit Iranian petroleum sales and Iran’s ballistic missile and advanced conventional weapons (ACW) production, as part of Treasury’s ongoing campaign of maximum pressure on Iran. Specifically, OFAC targeted additional vessels operating as part of Iran’s shadow fleet, which transport Iranian petroleum and petroleum products to foreign markets and serve as the regime’s primary source of revenue for financing domestic repression, terrorist proxies, and weapons programs. OFAC also targeted multiple networks that enable Iran’s Islamic Revolutionary Guard Corps (IRGC) and Ministry of Defense and Armed Forces Logistics (MODAFL) to secure the precursor materials and sensitive machinery required to reconstitute ballistic missile and ACW production capacity, as well as proliferate unmanned aerial vehicles (UAVs) to third countries.“Iran exploits financial systems to sell illicit oil, launder the proceeds, procure components for its nuclear and conventional weapons